D Hawkins

19
Oct

U.S. Stock Market At Short Term High

Posted by D Hawkins

Here I’m updating my blog entry of Oct. 8th, which showed the U. S. stock market having broken out above resistance into a robust new short term uptrend. Now, let’s see what has happened to this trend.

SPY

Here’s the daily chart of ticker SPY, the etf that tracks the S&P 500 index, updated to mid morning of Oct. 19th. We see that a TopFinder was fit to this uptrend early last week, and on Thursday of last week, it ended. So, now we can expect some kind of “response”, a pause, pullback or consolidation, to go on for awhile before the market decides what it will do next.

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